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Prepare nash journal entries for the january

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Reference no: EM131560317

Exercise - Nash Corporation issued a 5-year, $84,000, zero-interest-bearing note to Brown Company on January 1, 2017, and received cash of $41,763. The implicit interest rate is 15%.

Prepare Nash's journal entries for (a) the January 1 issuance and (b) the December 31 recognition of interest.

Reference no: EM131560317

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